Italy set to cut growth forecasts, hike deficit

Italy is poised to cut its economic growth forecasts for this year and next and raise its projections for the budget deficit on Tuesday when the cabinet meets to approve a new forecasting document.
The new forecasts, which will provide the framework for the government's 2017 budget to be presented next month, will set up a potential tussle with the European Commission, which has urged Italy not to ease up on previously agreed fiscal targets.
However, the euro zone's third largest economy has misfired this year and posted no growth in the second quarter, upsetting Prime Minister Matteo... read more

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